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Which non-profit corporations are

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Problem 1: One of the statements is false. Which is it? Non-stock, non-profit corporations are

a. exempt from income tax on income received as such corporations.

b. not exempt from taxes on their passive income from interests and royalties.

c. exempt from internal revenue taxes on their income derived from any of their properties.

d. not exempt from internal revenue taxes on their income derived from any activity conducted for profit.

Reference no: EM132673601

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